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Mortgage glossary
Second Lien (Second Mortgage)
A lien that is generally paid after the first mortgage if the property is sold or foreclosed. It may secure a home equity loan, HELOC, or certain assistance program. It can have its own payment, interest, fees, and repayment terms.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.